Retail sector is booming, but do students like it?
The India Retail Industry is the largest among all the industries contributing more than 10% of the country's GDP and approximately 8% of the employment. It has emerged as one of the most dynamic and swiftly growing industries with several international brands entering the market. Even though the sector is set to create a success story, it is yet to has yet to cover the extra mile in order to promise management graduates a successful career.
A recent online survey conducted by ZeebraCross, reveals some intriguing facts on management students' take on the retail sector. The survey was taken to have a clear insight into the student's career choice as well as help retailers develop better recruitment practices to draw the best talent pool in the industry. (Read more...)
With large Indian players like Reliance, ITC making significant investments in the retail sector, the industry is growing rapidly opening up new avenues which can prove to be a lucrative stream for fresh graduates. Moreover, the sector demands skilled professionals especially at the middle-management level. However, the survey indicates that retailing is yet to become the chosen career option as most educated Indians are still inclined to sectors like IT, BPO and financial services.
Polarity in opinions:
Majority of the students were aware of the fact that retail industry is a booming sector. It is determined by factors like increase in the purchasing power of individuals, changing lifestyle, use of credit cards and increase of awareness of various products and offerings through media.
On the other hand, many students perceive retailing jobs to be store-based jobs. Most are not aware of the various career opportunities as well as institutes and colleges offering retail management courses. While clothing/fashions, food/supermarket, and automobile are some of the most preferred segments in the sector, many students feel that the sector lacks in prestige. For instance, if they are working as a customer service executive for a retail store, they would try to hide themselves or would feel shy, if someone known visits them. (Read more...)
Therefore, the lack of interest in the students in taking up a job in the sector is evidently due to the lack of awareness of the various opportunities the retail sector offers other than sales executive for instance. This also means that the educational program does not successfully convey the excitement of the current intellectual environment in retailing. The following factors play a major role in leaving a negative impact on the students while considering the retail sector as the right career option:
- Status of retailing in society at large
- Retailers' earning potential vs. job stress level
Most B-schools that offer retail management and related courses provide summer internships which help students in understanding the industry thoroughly. Being an enormous sector, the industry demands for people at all levels-- from the school pass out with basic skills, to the well qualified supply chain and retail management professionals. Career prospects in this sector include segments like:
- Purchase and Services
- Designing and developing new products
- Predicting and acting on market trends
- Visual Merchandisers
- Supply Chain Distributors
- Promotional strategies
- Planning the merchandise mix
- Servicing customers
- Marketing
You can take up a job based on your interest and aptitude. Activities of retailing range from marketing to branding and promises excellent job opportunities. This makes retail a major contender in the job market. To know more about the various sub categories that fall under the retail industry, click here.
Other interesting reads:
Comments